U.S. Treasury Secretary Timothy Geithner
WASHINGTON (AP) — Treasury Secretary Timothy Geithner says the administration is extending the financial bailout program until next fall.
In a letter to House and Senate leaders, Geithner says the extension is "necessary to assist American families and stabilize financial markets."
Money from the $700 billion taxpayer-funded bailout program has helped rescue big Wall Street firms, auto companies and others. That's angered many Americans, who feel the government hasn't provided them with relief from high unemployment and rising home foreclosures.
Geithner says the program will be extended until Oct. 3, 2010.
